Statement loans – payday loans without checking databases and statements
Earnings certificate is already the norm when making financial commitments. However, a loan based on a statement is a product that does not require proof of your income. It is enough to manually indicate the source of income, its height – and that’s it! Let’s see what to keep in mind when taking a payday loan statement and what loan companies have it on offer! Clarification at malaysiawm.com
Loans on the statement
Statement loan – quick money for urgent needs!
An accident, job loss, unexpected illness – it happens. There is nothing to cheat that then the need to have money “already” turns out to be necessary. All the more so when you don’t have enough savings to save for it. Fortunately, there are situations when borrowing funds on attractive terms is absolutely possible.
In the opinion of many people, there is still the conviction that incurring a commitment involves a number of formalities. Sometimes, however, to take a loan all you need is “faith in the word.” So what lies behind the term ” loan for a statement “? It is primarily about products that only verify the customer’s hand-written declaration about his source of income and amount. You do not need a salary or income certificate that documents the credibility of the statement. The client does not have to show a file of letters confirming the truthfulness of his evidence. Therefore, this type of loans will work especially well among people who work without an employment contract, but have a few small sources of income.
Nothing simpler – thanks to that you can receive money on the same day!
Instantaneous statement – a lifebuoy for those in debt
One may be tempted to say that a loan based on a statement is the only and correct solution when the consumer does not fit in with the positive image of the ideal lender. And there is a grain of truth in it. Often indebted people who have obligations in various companies have nothing to count on getting a loan from a bank. That is why some lenders turn a blind eye to possible arrears and offer quick payday loans at the client’s word. There is one condition – when applying for a loan, the amount of income you receive must be truthful! It is not worth overstating – because it can be verified by a loan company at any time!
How does the verification of applications work?
Everyone – who has ever run into financial problems knows how much stress it accompanies and how hard it is to get out of debt. Thus, the rules for the payday loans market are simple. The proof for the loan company is a self-written statement about the amount of monthly income. Such a document can be:
- Directly attached in the verification form – its credibility is checked on the basis of the transfer of a symbolic amount, from a personal account to the account indicated by the lender,
- Required as a separate letter
What should you include in your earnings statement?
- Personal details of the future customer: name, address, phone number, optionally – email,
- Level of monthly income,
- Type of employment contract,
- Place of employment and company name,
- Legible signature of the applicant for a loan,
In the application, it is worth considering all profitable sources and determining the total amount of funds obtained. There is a risk of criminal liability for giving false testimony or overstating the amount achieved!
What else can the loan company ask you?
A self-written statement is one thing. Sometimes lenders may also ask about:
- Customer residence status,
- Number of dependents of the borrower in the household,
- Having a bank account,
- No debt and creditworthiness analysis
These items do not always go hand in hand at the same time – but it is customary for loan companies’ clients to be tested for credibility. There are people who love to color the matter of their finances – and a lie has short legs. First of all – such action is very easy to verify, e.g. by phone to the company where the consumer is employed or by looking into the bank account and checking how the income actually looks. And secondly – false information is an argument for immediate termination of the loan agreement. In practice, this means a refund or even an accusation of fraud! Of course, such actions require the borrower’s consent, which is usually accepted in exchange for granting the loan.
A loan based on a statement is not a loan without checking the databases!
Payday loans can be obtained very easily. All you need is a quick phone call or online application submission, and urgent expenses are settled. However, you should not confuse the concept of a loan with a loan without checking the databases. These are two separate financial products! Lenders check databases – however, depending on the policy, some only look into BIK, while others only look into KRD, BIG InfoMonitor, ERIF or ZBP or other registers.
The essence of this is the fact that each loan granted by loan companies is perceived by Polish law as a consumer loan, whose total amount does not exceed $ 255 550 or the equivalent of this amount in a currency other than Polish. Therefore, unlike banks – lenders are definitely more lenient with potential customers – even with bad credit history. Interestingly, the offer of loans based on the statement can be used not only by natural persons, but also by entrepreneurs running their own business as well as by farmers. What amount can you incur? Usually these are amounts that range from 200 to 20 thousand.
You can never be too careful!
Waiting for a statement is primarily convenience, time saving, transparency of conditions and speed of receiving money. The application completed in a few minutes plus its positive verification means that the money goes to the account even on the same day. As with any financial commitment, it’s important to keep your safety in mind! What do we mean
- Before completing the loan form, read carefully the conditions for receiving money,
- Look at how customers are verified, the interest rate, and take into account the repayment date of the commitment,
- Check the credibility of the loan – you will find a list of reliable lenders in the Register of Institutions Loan ch, which is approved by the Financial Supervision Commission.
Don’t forget that:
- A loan based on its numerous advantages has also dark sides. Taking on any necessity can be extremely dangerous and lead to a spiral of debt – and thus loss of control over your home budget. In the end – the more commitments, the worse it is to break free from them,
- Paying off one payday payday with another easily leads to the snowball loan effect,
- Quick cash taken on a statement means that you agree to the terms of the lender and a short repayment period, within 30 days – but with the option of extension,
- The pleasure of receiving an additional injection of cash is tempting, but do not forget about the daily necessary expenses. Otherwise, you may have problems with serious addiction.
Like a loan on a statement, it’s always responsible!
The ease of taking out payday loans for a statement allows you to get money without much effort. We should remember, however, that every commitment should be repaid sometime, so it is worth considering whether the budget, including repayment installments, will get stuck. What is important here is the honesty of the statement of own costs and responsibility for borrowed money. Then, the loan as a product becomes a great solution for receiving a quick injection of cash without leaving home.